Arkansas Code Title 14. Local Government § 14-120-226. Tax levy by board

(a) The board of directors of any levee district, drainage district, or levee and drainage district is authorized and empowered, and it is made their duty, to assess and levy annually a tax upon the increased value, or betterment, estimated to accrue, and which will accrue, to lands, town lots, blocks, railroads, and tramroads, telegraph and telephone lines, and electric power lines, and all other real property lying within the boundaries of any such district, by reason of the construction and perpetual maintenance and operation of the flood control and drainage works provided for in any projects heretofore adopted and authorized or any projects which may be hereafter adopted and authorized, for the purpose of enabling the district to comply with the provisions of any contract or agreement that it may make with the United States, the United States Secretary of the Army, the Chief of Engineers of the United States Army Corps of Engineers, or any other federal agency under which it may obligate itself:

(b) The tax to be so annually levied on the increased value, or betterment, shall not exceed five percent (5%) of the increased value, or betterment, as determined and fixed under §§ 14-120-223 and 14-120-224 not to exceed two dollars and fifty cents ($2.50) per acre on rural lands.